BIBLIOGRAPHY

ESTALIN, ROCKY O. APRIL 2009. Bahong Multi-Purpose Cooperative: A
Documentation in Bahong, La Trinidad, Benguet. Benguet state University, La Trinidad,
Benguet.
Adviser: Luke E. Cuanguey, BSc
ABSTRACT

This study aimed to identify and document the Bahong Multi-Purpose
Cooperative; to determine the growth of the cooperative in membership, total share
capital, total assets, total liabilities, and net surplus; to identify the policies and problems
and to give recommendations for the improvement of their operation.

The respondents of the study were the manager, secretary, staff/officer and
members of the cooperative, the needed information and data, were gathered using an
interview guide.

In the 18 years of operation of the Bahong Multi-Purpose Cooperative there was
of membership, total share capital, total assets, total liabilities, and net surplus. The
Bahong Multi-Purpose Cooperative grew in membership from 1991 to 2008 with a
corresponding growth in total share capital, total assets, total liabilities, and net surplus.

There is a direct relationship between the number of members and each of the
following: total share capital, total assets, total liabilities, and net surplus, strict
implementation of cooperative policies, started in 2007. The respondents also identified
that the problem encountered on the operation of the Bahong Multi-Purpose Cooperative
are mainly lack of cash for loans and few members are saving.

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TABLE OF CONTENTS












Page
Bibliography……………………………………………………………………. i

Abstract…………………………………………………………………………
i

Table of Contents……………………………………………………………….
ii


INTRODUCTION……………………………………………………………...
1


Background of the Study……………………………………………….
1

Statement of the Problem………………………………………………
3
Objectives of the Study………………………………………………...
4

Importance of the Study………………………………………………..
4

Scope and Limitation of the Study……………………………………..
5
Definition of term………………………………………………………
5
REVIEW OF LITERATURE…………………………………………………..
7


Beginning of BMPC……………………………………………………
7

Cooperative Growth……………………………………………………
8
METHODOLOGY……………………………………………………………..
11


Locale and Time of the Study………………………………………….
11

Respondents of the Study………………………………………………
11


Data Collection…………………………………………………………
11

Data Gathered…………………………………………………………..
11

Data Analysis…………………………………………………………...
11

ii

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RESULTS AND DISCUTION…………………………………………………
12

The First Officers of the Cooperative………………………………….
12

Organizational Chart and Structure of BMPC…………………………
14

The General Assembly…………………………………………………. 14

Growth in Membership of the BMPC………………………………….
14

The Board of Director………………………………………………….
17

The Committee…………………………………………………………
17

The Management Staff…………………………………………………
17

Financial Growth of the Cooperative…………………………………..
18
Total Share Capital……………………………………………………..
18
Total Assets……………………………………………………............
20
Total Liabilities…………………………………………………………
22
Total Net Surplus……………………………………………………….
24
Capital Structure………………………………………………………..
26
Financial Trends………………………………………………………..
27
Capital structure………………………………………………………..
27
Profitability Ratio………………………………………………………
27
Liquidity Ratio………………………………………………………….
29
Policies that Affects the Growth of the Cooperative…………………...
29
Problems Face by the Cooperative as the
Cooperative Management identified……………………………………
31
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS……............... 33


Summary……………………………………………………………….
33

Conclusion……………………………………………………………...
35
iii

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Recommendations……………………………………………………… 35
LITERATURE CITED…………………………………………………………
37
EXHIBIT 1 Organizational Chart and Structure……………………………… 38
APPENDIX:
A. By-Laws of the Bahong Multi-Purpose
Cooperative, Inc……………………………………………………
39
B. Duties and Responsibilities of
General Assembly…………………………………………………..
46
C. Power, Duties and Responsibilities of
the Board of Directors……………………………………………...
48
D. Duties and Responsibilities of Audit
and Inventory Committee…………………………………………..
50
E. Officers and their Duties and
Responsibilities……………………………………………………..
53
F. Changes in the Policies Practices
and Programs……………………………………………………….
55
G. Formula Used For the Computation
of Financial Ratios………………………………………………….
57
H. Interview Guide…………………………………………………….. 58

iv

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1

INTRODUCTION


Background of the Study
A progressive cooperative sustaining standard socio-economic condition of its
members as the vision of the Bahong Multi-Purpose cooperative.

The municipality of La Trinidad in Benguet, Philippines has 16 barangays, one of
which is barangay Bahong known as “The Rose Capital of the Philippines”. Bahong is
also widely referred to as the "Rose Garden of the Philippines" due to the vast areas of
rose and various cut flower plantations in the area. It is inhabited by both Ibaloys and
people from Mt. Province including the Pangasinenses.
On September 1990, two months after the killer earthquake, the Department of
Agriculture-La Trinidad and Land Bank of the Philippines-Benguet Field office, assisted
farmers of Bahong in the organization of a cooperative. They conducted an
orientation/seminar and pre-membership seminar-workshop. There were forty-four (44)
interested individuals who organized the Bahong Multi-Purpose Cooperative (BMPC)
with an initial capital of one hundred thirty three thousand five hundred ninety three
pesos (Php133,593.00). All the initial members are resident of Barangay Bahong, La
Trinidad, Benguet, an agriculture based community engaged in vegetable and cut flower
production.

In February 6, 1991, the Cooperative Development Authority (CDA) approved
the registration of the cooperative. The cooperative, with its office at Bahong Warehouse,
started its operation on Credit Services and Consumer Services retailing selected basic
commodities such as rice, sugar and LPG. At the same time, the Land Bank of the
Philippines field staffs assisted the members to avail loans for farm inputs for vegetable
Bahong Multi-Purpose Cooperative: A Documentation
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and cut flower production and hog fattening, which was approved and released the same
year in the amount of two hundred eighty seven thousand two and eighty centavos (Php.
287,002.80). Likewise, the Department of Agriculture has provided funds for hog raising
in the amount of seventy thousand pesos (Php. 70,000).

In one year operation, the cooperative posted a net surplus of forty thousand two
hundred forty eight pesos and fifty eight centavos (Php. 40,248.58). Membership increase
to sixty two (62) members with a total share capital of two hundred fifty two thousand
one hundred six pesos (Php. 252,106.00) from members and savings deposits amounting
to eighty two thousand four hundred thirty nine pesos and twenty five centavos (Php.
82,439.25).

After four years of operation, capitalization was increased to three hundred sixty
two thousand eight hundred ninety six pesos and thirty three centavos (Php. 362,896.33)
with 131 cooperative members. In 1995, a trial of cut-flower and vegetable marketing at
Kalentong, Manila by the BMPC and other cooperatives was undertaken but failed due to
minimal sales, thus the operation ceased and relocated in Dimasalang, Sampaloc Manila.
Cut flower produced by farmers were brought to the Bahong Warehouse (coop office at
the time) for recording, quality control and packing to be transported and sold in Manila
by coop personnel’s, there were 36 members who participated in this venture. But in
1998, members involved in these venture decreased due to individual entrepreneurship
whereby members set up their own flower shops in Manila. During the General Assembly
it was then agreed upon that the marketing operation of the cooperatives shall be
suspended.
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In line with the plan of the cooperative to venture on farm input and basic
commodities, it has acquired a lot in July 1998 where the present cooperative office and
cold storage was constructed.

The cooperative has assisted farmer-members having access to the government
programs. At present, most farmers are now engaged in cut flower production replacing
their vegetable farming. Rose cut flower is now extensively cultivated in the barangay,
that the Secretary of Agriculture, Hon. William Dar 1998, after his visit to the area
declared it as the rose Capital of the Philippines.

In the year 2,000, through the effort of the officers of the cooperative they were
able to get assistance for the Department of Labor and Employment (DOLE). DOLE
conducted training for composting and granted fund amounting to six hundred thousand
pesos (Php. 600,000.00) which was used for the construction of a cold storage which is
now being operated by the cooperative. The following year, the Floral Green House was
constructed with funds granted by the Department of Agriculture (DA) amounting to
eight hundred thousand pesos (Php. 800,000.00). The marketing service of the
cooperative is now operating the post harvest facility or the cold storage and cut flower
production in the Floral Green House. (Bahong Multi Purpose Cooperative Operational
Manual 2008).

Statement of the Problem

The study aim to answer the following questions:
1. Is there growth in the cooperative as to
· Number of members
· Total assets
· Total share capital
· Total liabilities
Bahong Multi-Purpose Cooperative: A Documentation
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· Net surplus
2. What are the policies of cooperative that affected its growth?
3. What are the problems encountered by the cooperative?

Objectives of the Study

In order to answer the problems of the study the following are the objectives of
the study:
1. To determine the growth of the cooperative as to
· Number of members
· Total liabilities
· Total share capital
· Net surplus
· Total assets
2. To identify the policies of cooperative that affected its growth.
3. To identify the problems of the cooperative.

Importance of the Study
This study was conducted to provide information on the development of cooperatives in
the municipality. The information gathered could be used as input for making plans and decision
to improve the operation of the cooperative.
In addition, the research would also serve as reference to the students, specifically to the
BS Agribusiness, Cooperative, Management students and other research who are also interested
in Cooperative Management and Development.
Finally, the result of the study could be used as a source of information for further
research and other related studies. It may also provide some guide to students and researchers
who are interested in conducting similar studies.
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Scope and Limitation of the Study
The study conducted focused on the operation of the Bahong Multi-purpose Cooperative
(BMPC) in the Barangay Bahong La Trinidad, Benguet.

Definition of Terms
Cooperative. A cooperative is an autonomous association of persons united
voluntarily to meet their common social and cultural needs and aspirations through
jointly owned and democratically controlled enterprises. Cooperatives are based on the
values of self-help, self-responsibility, democracy, equality and solidarity.
Credit. It is borrowing money, usually to buy goods. Interest usually has to be
paid on a loan. There may also be administration costs to pay, and interest may be
charged on these too. A creditor is an individual or a company making a loan and may
also be known as the lender.
Documentation. The recording in a permanent format of information derived from
conservation activities.
Marketing. It is an ongoing process of planning and executing the marketing mix
for products, services or ideas to create exchange between individuals and organizations.
It is the social process by which individuals and groups obtain what they need and want
through creating and exchanging products and value with others.
Growth. It is Refers to an increase in some quantity over time. The quantity can
be physical (e.g., growth in height, growth in an amount of money) or abstract (e.g., a
system becoming more complex, an organism becoming more mature). It can also refer
to the mode of growth, i.e. numeric models for describing how much a particular quantity
grows over time.
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Regression. It is a statistical measure that attempts to determine the strength of
the relationship between one dependent variable (usually denoted by Y) and a series of
other changing variables (known as independent variables). The two basic types of
regression are linear regression and multiple regressions. Linear regression uses one
independent variable to explain and/or predict the outcome of Y, while multiple
regressions use two or more independent variables to predict the outcome. Regression
takes a group of random variables, thought to be predicting Y, and tries to find a
mathematical relationship between them. This relationship is typically in the form of a
straight line (linear regression) that best approximates all the individual data points.
Regression is often used to determine how many specific factors such as the price of a
commodity, interest rates, particular industries or sectors influence the price movement of
an asset (Dictionary 2009).






















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REVIEW OF LITERATURE


Beginning of BMPC

On September 1990, two months after the killer earthquake, the Department of
Agriculture-La Trinidad and Land Bank of the Philippines-Benguet Field office, assisted
farmers of Bahong in the organization of a cooperative. They conducted an
orientation/seminar and pre-membership seminar-workshop. There were forty-four (44)
interested individuals who organized the Bahong Multi-Purpose Cooperative (BMPC)
with an initial capital of thirty thousand three hundred pesos (Php. 30,300). All the initial
members are resident of Barangay Bahong, La Trinidad, Benguet, an agricultural based
community engaged in vegetable and cut flower production such as roses.

In February 6, 1991, the Cooperative Development Authority (CDA) approved
the registration of the cooperative. The cooperative, with its office at Bahong Warehouse,
started its operatin on Credit Services and Consumer Services retailing selected basic
commodities such as rice, sugar and LPG. At the same time, Land Bank of the
Philippines field staffs assisted the members to avail loans for farm inputs for vegetable
and cut flower production and hog fattening, which was approved and released the same
year in the amount of two hundred eighty seven thousand two and eighty centavos (Php.
287,002.80). Likewise, the Department of Agriculture has provided funds for hog raising
in the amount of seventy thousand pesos (Php. 70,000).
After the years of trials, challenges and frustrations faced by the officers of the
cooperative, the officers exerted more effort and learned from their experiences, they
were able to manage the cooperative for almost Sixteen Years (16) which help in
development and employment of the Barangay. In 2007 the cooperative has employed ten
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staff that includes a full time manager. The Audited Financial Statement of the
cooperative has reached a net surplus of Php. 245,286.22 and total assets of 3.7 Million
pesos. (Manual Operation of Bahong Multi-Purpose Cooperative, 2008).

Cooperative Growth
Cooperative Housing Foundation (CHF) International is applying a variety of
existing best practices and methodological tools to help cooperative stakeholders improve
their performance through the Innovating, Measuring and Promoting Poverty Alleviation
by Cooperatives in Transition Societies (IMPPACTS) program. Implemented in Bosnia,
Mongolia, Rwanda and the Philippines, this initiative is working with cooperative
organizations to develop enabling environments for the growth of cooperatives
businesses in each respective country. Through these activities, the CDA will be able to
effectively and efficiently track performance of cooperatives and assist them in further
developing their attributes and turning their weaknesses into strengths.
This paper examines the factors that affect the annual growth of cooperatives and
investor owned firms (IOF) in Greek diary industry over the period 1990–94. A
comparison based on both cooperative principals and property rights theory is made
between IOFs and cooperatives to study their characteristics. However an empirical work
is required to explain differences, if any, in the growth of the two types of firms within
the same market. The work examines the determinants of the annual growth and it tests
whether significant differences between IOFs and cooperatives exist. Ordinary least
squares results show that both diversification and advertising strategies are important
determinants for IOF growth, while the cooperative growth depends on capital structure
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and intensity and these organizations do not effectively apply competitive strategies
(Oustapassidis et al., 2008).

Member equity and its multiple links to the rest of the cooperative are worth
examining closely, for this is an area in which co-ops still have much to learn. Practices
among cooperatives vary widely, and along with examples of healthy cooperative
businesses with strong and growing member equity systems, there are many instances of
neglect of the role of member capital or of inconsistent and irrational organizational
practices.
If capital is the lifeblood of a business, a co-op's member equity system may
indicate whether that business is anemic or full of vitality. Yet member equity usually is
less evident and less promoted than other features of the cooperative. Even where there
are growing sales and a satisfied membership, there may be a serious capital problem.
Frequently we find that members are owners in name only, with but a token investment in
the co-op. There may be little sense of identity as owners of a business, and little
attention given to whether the cooperative is building equity (Gutknecht 2008).
This article explores the issue of cooperative growth from both an empirical and
theoretical perspective. Using total assets as the measure of cooperative size, we present
long-term, time-series data from seven of the largest regional agricultural cooperatives in
Canada and the United States. We then examine the issue of growth from a theoretical
perspective, integrating the literature on investor-oriented firm growth with the literature
on cooperative growth. The empirical analysis that follows from the theoretical analysis
suggests it is not possible to reject Gibrat's Law for six of the seven cooperatives; that is,
that a cooperative's long-term growth rate is independent of its size. The empirical results
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also suggest the growth rate for the cooperatives in the sample is low, perhaps even zero.
(Fulton and Fulton, 2008).
An Act creating the Cooperative Development Authority to promote the viability
and growth of cooperatives as instruments of equity, social justice and economic
development, defining its powers, functions and responsibilities, rationalizing
government policies and agencies with cooperative functions, supporting cooperative
development, transferring the registration and regulation functions of existing
government agencies on cooperatives as such and consolidating the same with the
authority, appropriating funds therefore, and for other purposes (Cooperative
Development Authority Act (Republic Act No. 6939).



















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METHODOLOGY


Locale and Time of the Study

The study was conducted in DC-104, Bahong, La Trinidad, Benguet province
where the office of the Bahong Multi-Purpose Cooperative is located. It will be
conducted from November 2008 to March 2009.

Respondents of the Study

The respondents of the study were the General Manager, 5-10 members, 2-3
staff/officer and the Chairman or Vice Chairman of the cooperative.

Data Collection
The data collection was gathered through personal interview. The secondary data
were taken from the reports, By-laws and minutes of the meeting of the Board of
Directors.

Data Gathered

The data gathered were the types and number of members, maximum total share
capital, total assets, paid-up share capital, their practices, programs and policies and the
problems encountered by the cooperative.

Data Analysis
The data collected were tabulated and analyzed with the use of the trends analysis.
Using Microsoft excel to show the correlation between the variables in the study.
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RESULT AND DISCUSSION


The First Officers of the Cooperative
The Bahong Multi Purpose Cooperative is registered with Cooperative
Development Authority with Registration No. Reg. #QC-423 last Feb. 6, 1991. It was
organized by 44 interested individuals’ members that are bona fide resident of Barangay
Bahong, La Trinidad, Benguet, an agricultural based community engaged in vegetable
and cut flower production such as roses. The old organizational structure as presented by
the chairman was that the Board of Directors are the higher than the other committees
elected by the Assembly.

For the year under audit, the following are the officers:
a. Board of Directors:

1. Wilfred D. Padio

- Chairman

2. Jeffrey D. Visaya

- Vice Chairman

3. Milagrose Perez

- Secretary/Member

4. Linda Chiok


- BOD member

5. Jacinta Segundo

- BOD member

6. Rosita G. Serrano

- BOD member

7. Virginia S. Bahod

- BOD member

8. Marlon S. Cayat

- BOD member

9. Jose Cristino


- BOD member

10. John S. Pulas


- BOD member

11. Rosenda M. Taras

- BOD member

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b. Credit Committee:

1. Eduarda Garoy


- Chairman

2. Nora Suhat


- Secretary

3. Rosita Morales


- Member
c. Audit/Inventory, Supervisory Committee:

1. Catherine Bahod

- Chairman

2. Belen Segundo


- Vice Chairman

3. Susana Cayat


- Member
d. Education Committee:

1. Jeffrey Visaya


- Chairman

2. Marilyn Olitoquit

- Vice Chairman

3. Marceline Visaya

- Member
e. Election Committee:

1. Eduardo Chiok


- Chairman

2. Patrick Mendoza

- Secretary

3. Evelyn Osias


- Member
f. Treasurer:

1. Yolanda Laruan

- Treasurer
2. Helen Padilla


- Bookkeeper
3. Sonia Sim


- Assistant Bookkeeper
g. Unit Head:

1. Jacinta Segundo

- Consumers’ Unit

2. John Pulas


- Water system Unit
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Organizational chart and structure of BMPC. The Bahong Multi Purpose
Cooperative is registered with Cooperative Development Authority with Registration No.
Reg. #QC-423 last Feb. 6, 1991. Their present organizational chart is composed of the
General Assembly, the Board of Director, the Committee plus the Secretary and
Treasurer and the Management Staff. The organizational chart of the cooperative is
shown in Exhibit 1 and the organizational structure shown also in Exhibit 1 shows that
the cooperative is composed of the three services the Water, Credit and Marketing
Services.

The general assembly. The general assembly of the cooperative is composed of
members entitled to vote duly assembled and constituting a quorum or the regular
members as provided in Sec.4 of Art. II of by-laws of the cooperative, it is presented in
Appendix A. The regular members are the bona fide residents of Bahong, La Trinidad,
Benguet or is residing or working within the area of operation as defined and delimited in
Art. III of the Article of this Cooperative. The regular members are those who paid the
membership fee of (P150.00)(P50.00), and the value of at least P1,000.00 corresponding
to 10 Shares. However, no member shall own more than (20%) of the paid-up share
capital of the cooperative, as prescribed in Sec.2 of Art. II presented in Appendix A. The
duties of members are in the by-laws of the BMPC as presented in Appendix B.
Growth in membership of the BMPC. Table 1 and figure 1 shows the growth in
membership from the time it was registered to the Cooperative Development Authority
(CDA) in 1991 up to 2008. The number of members had been increasing annually,



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Table 1. Growth in membership of BMPC
YEAR, x
TOTAL MEMBERS, y
xy
x2




1990
26
51,740
676
1991
44
87,604
1,936
1992
62
123,504
3,844
1993
79
157,447
6,241
1994
87
173,478
7,569
1995
131
261,345
17,161
1996
107
213,572
11,449
1997
103
205,691
10,609
1998
111
221,778
12,321
1999
103
205,897
10,609
2000
131
262,000
17,161
2001
101
202,101
10,201
2002
150
300,300
22,500
2003
170
340,510
28,900
2004
211
422,844
44,521
2005
239
479,195
57,121
2006
333
667,998
110,889
2007
379
760,653
143,641
2008
429
861,432
184,041
TOTAL – 37,981
2,996
5,999,089
701,390

Coefficients
Standard Error
t Stat
P-value
Intercept
-8.215686
27.377855
-0.3001
0.768
X Variable 1 18.233230
2.529283
7.2089
2.08E-06
_
_



x = 1,894.26
y = 157.68
r = 0.87441

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500
450
400
350
300
250
Series1
200
Linear (Series1)
150
100
50
0
-501985
1990
1995
2000
2005
2010

Figure 1. Graph of total members

although at varying rates of increase. The growth from birth until present is increasing, it
was only in 1997, 1999 and in 2001 that decrease was experienced. This was due to
withdrawals of some members who set up their own flower shops. In 1990 there were
only 26 farmers that only talked about organizing the cooperative a cooperative in their
Barangay until the Department of Agriculture-La Trinidad and Land Bank of the
Philippines-Benguet Field office assisted them in the organization of a cooperative. They
conducted an orientation/seminar and pre-membership seminar-workshop. So in 1991 the
cooperative was in birth for 44 interested individual members to organize the BMPC.
From 2002 until 2008 there was a continued increase of the members from 1991-44
members to 2008-429 members.
The regression analysis showed that there is a positive linear correlation in
number of members where the correlation coefficient, r, equals 0.87441 which is
interpreted as high relationship that from 1990 onwards there was continued increase in
membership in the cooperative.
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The board of directors. The old Board of Directors of BMPC consisted of (11)
BOD, that is Chairman, Vice Chairman, Secretary and (8) BOD members, but now at
present the Board of Directors are only (5) a Chairman-Wilfred Padio, Vice Chairman-
Lufton Safucay, member-Philip Banda-ay, Crisanto Bastian, Esther Mahinay. The BOD
should be a member of least one year in cooperative, they are willing to commit
themselves for the growth of the cooperative and they are dedicated in the interest of the
cooperative. The power, duties and responsibilities of the BOD is presented in Appendix
C.

The committees. There are four standing committee of the cooperative, The Audit
and Inventory committee, the Credit committee, the Election committee, and the
Education and Training committee. These different committees assist the BOD in the
planning and implementing of the development programs of the cooperative. They are
member of the cooperative for at least one year in the cooperative. Each committee is
composed of three (3) members, it like the BOD, they have Chairman, Vice Chairman
and a member. Each committee had its own schedule of regular meeting. From Audit
committee Chairman-Yolanda Laruan, Vice Chairman-James Carbonel, member-Jantor
Morales; Credit committee Chairman-Regina Carbonel, Vice Chairman-Daria Bugatan,
member-Jose Cristino; Education and Training committee Chairman-Lufton Safucay,
Vise Chairman-Lourdes Garoy, member-Jacinta Segundo; Election committee Chairman-
Denver Daniel, Vice Chairman- Jackson Enciong, member-Maura Garoy. The duties and
responsibilities of each committee are shown in Appendix D.

The management staff. The management staff of the cooperative is composed of
eight six (6) employee headed by the General Manager, Mr. Wally Bayawa. The other
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employees included are the Cashier, Accountant or Bookkeeper, Posting Clerk, Pump
Operator, and the Plumber/Meter Reader. They were to maintain an efficient service with
the cooperative.

Financial Growth of the Cooperative

This present the growth in paid-up Share Capital, total Assets, total Liabilities,
and total Net Surplus from the start of its operation up to 2008.
Total share capital. Table 2 and Figure 2 shows the growth of Bahong Multi-
Purpose Cooperative in terms of share capital. It can be seen from the table that from 44
members in 1991, it grew to 429 members in 2008. Correspondingly, there is a growth in
total share capital from P133, 593.00 in 1991 to P1,350,735.44 in 2008. It is observed
that from 1991 to 1995, there was an increase in membership alongside an increase in
total share capital. In 1996, however, the membership decreased but still the total share
increased because the cooperative increased the subscribed share capital, according to the
cooperative manager. In 2002 and 2003 where membership increased, yet total share
capital decreased, the members were required to pay only the minimum subscribed share
capital and some did not pay the subscribe share capital. The highest total share capital is
Php1,350,735.44 obtained in 2008 corresponding to the highest total membership.
The regression analysis showed that there is a positive linear correlation between
number of members and total share capital where the correlation coefficient, r, equals
0.783 which is interpreted as high relationship. As membership increases, it is expected
that total share capital increases, too. The membership and total share capital are related
by the regression equation y = 204,126.577 + 1,816.108x. This means that the total share
capital increases on the average by 1,816.108 for every additional member. This finding
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Table 2. Growth in total membership and total share capital of BMPC
TOTAL SHARE
YEAR
TOTAL
MEMBERS, x
CAPITAL (IN
Xy
x2
PESOS), y





1991
44
133,593.00
5,878,092.00
1,936
1992
62
252,106.00
15,630,572.00
3,844
1993
79
332,914.66
26,300,258.14
6,241
1994
87
362,896.33
31,571,980.71
7,569
1995
131
404,016.52
52,926,164.12
17,161
1996
107
519,548.93
55,591,735.51
11,449
1997
103
435,023.31
44,807,400.93
10,609
1998
111
677,816.72
75,237,655.92
12,321
1999
103
526,478.38
54,227,273.14
10,609
2000
131
535,110.04
70,099,415.24
17,161
2001
101
478,990.41
48,378,031.41
10,201
2002
150
422,870.77
63,430,615.50
22,500
2003
170
365,652.74
62,160,965.80
28,900
2004
211
444,830.07
93,859,144.77
44,521
2005
239
482,925.87
115,419,282.90
57,121
2006
333
543,586.91
181,014,441.00
110,889
2007
379
799,022.82
302,829,648.80
143,641
2008
429
1,350,735.44
579,465,503.80
184,041
TOTAL 2,970
9,068,118.92
1,878,828,182.00
700,714

Coefficients
Standard Error
t Stat
P-value
Intercept
204126.577
71087.440
2.871486
0.01107702
X Variable 1 1816.108
360.295
5.040608
0.00012059
x = 165

y = 503,784.38
r = 0.783

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1,600,000.00
1,400,000.00
1,200,000.00
1,000,000.00
Series1
800,000.00
Linear (Series1)
600,000.00
400,000.00
200,000.00
-
0
100
200
300
400
500

Figure 2. Graph of total members and share capital

agrees with that of growth share capital wherein he said that coop member’s equity
indicate whether that business is increased in full of vitality.
Total assets. Table 3 and Figure 3 shows the growth of Bahong Multi-Purpose
Cooperative in terms of total assets. It can be seen from the table that there is a growth in
total assets from P520,673.66 of 44 members in 1991 to P7,034,928.66 of 429 members
in 2008. From the year 1991 to 2008 there is a positive relationship between x and y, as
total members increased so does total assets.
The regression analysis showed that there is a positive linear correlation between
number of members and total assets where the correlation coefficient, r, equals 0.838
which is interpreted as high relationship. As membership increases, it is expected that
total share capital increases, too. The membership and total assets are related by the
regression equation y = -17,060.50 + 11,090.86x. This indicates that for every additional
member of the cooperative, there is a corresponding average increase of 11,090.86 pesos
in total assets.

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Table 3. Growth in total membership and total assets (pesos) of BMPC
YEAR
TOTAL
TOTAL ASSETS
MEMBERS, x
(IN PESOS), y
xy
x2





1991
44
520,673.66
22,909,641.04
1,936
1992
62
986,025.04
61,133,552.48
3,844
1993
79
978,360.59
77,290,486.61
6,241
1994
87
1,101,918.87
95,866,941.69
7,569
1995
131
1,383,847.39
181,284,008.09
17,161
1996
107
1,358,132.52
145,320,179.64
11,449
1997
103
1,428,177.25
147,102,256.75
10,609
1998
111
1,607,429.20
178,424,641.20
12,321
1999
103
1,172,938.24
120,812,638.72
10,609
2000
131
1,105,167.86
144,776,989.66
17,161
2001
101
1,683,360.06
170,019,366.06
10,201
2002
150
1,819,669.62
272,950,443.00
22,500
2003
170
1,749,931.50
297,488,355.00
28,900
2004
211
1,264,852.21
266,883,816.31
44,521
2005
239
1,384,586.61
330,916,199.79
57,121
2006
333
2,267,644.69
755,125,681.77
110,889
2007
379
3,785,125.91
1,434,562,719.89
143,641
2008
429
7,034,928.66
3,017,984,395.14
184,041
TOTAL 2,970
32,632,769.88
96,919,326,543.60
700,714

Coefficients
Standard Error
t Stat
P-value
Intercept
-17060.50
356504.500
-0.047850
0.962424
X Variable 1
11090.86
1806.887
6.138106
1.43E-05
x = 165

y = 1,812,931.66
r = 0.838


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8,000,000.00
7,000,000.00
6,000,000.00
5,000,000.00
Series1
4,000,000.00
Linear (Series1)
3,000,000.00
2,000,000.00
1,000,000.00
-
0
100
200
300
400
500

Figure 3. Graph of total members and total assets

Total liabilities. Table 4 and Figure 4 shows the growth of Bahong Multi-Purpose
Cooperative in terms of total liabilities. It can be seen from the table that there is a
growth in total assets from P369,442.07 in 1991 to P3,575,268.85 in 2008. The total
liabilities consisted of savings deposits of members and external borrowing of the
cooperative were it can base through the increased and decreased of liability. The liability
of members shall be limited and no members shall liable for any indebtedness of the
cooperative beyond his subscribe shares.
The regression analysis showed that there is a positive linear correlation between
number of members and total liabilities where the correlation coefficient, r, equals 0.703
which is interpreted as moderate or substantial relationship. As membership increases, it
is expected that total liabilities increases, too. The membership and total liabilities are
related by the regression equation y = -159,570 + 4,908.12x. This indicates that for every
additional member of the cooperative, there is a corresponding average increase of
4,908.12 pesos in total liabilities.
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Table 4. Growth in total membership and total liabilities of BMPC
TOTAL
TOTAL
YEAR
MEMBERS,
LIABILITIES
xy
x2
x
(IN PESOS), y





1991
44
369,442.07
16,255,451.08
1,936
1992
62
637,862.13
39,547,452.06
3,844
1993
79
457,578.63
36,148,711.77
6,241
1994
87
411,592.40
35,808,538.80
7,569
1995
131
742,381.18
97,251,934.58
17,161
1996
107
457,319.83
48,933,221.81
11,449
1997
103
346,477.23
35,687,154.69
10,609
1998
111
334,009.51
37,075,055.61
12,321
1999
103
467,957.19
48,199,590.57
10,609
2000
131
411,424.54
53,896,614.74
17,161
2002
150
186,789.47
28,018,420.50
22,500
2003
170
123,789.47
21,044,209.90
28,900
2004
211
425,593.94
89,800,321.34
44,521
2005
239
601,916.04
143,857,933.56
57,121
2006
333
511,198.07
170,228,957.31 110,889
2007
379
1,308,096.21
495,768,463.59 143,641
2008
429
3,575,268.85
1,533,790,336.65 184,041
TOTAL 2,869
11,368,696.76
2,931,312,368.56 690,513

Coefficients
Standard Error
t Stat
P-value
Intercept
-159,570.00
258151.700
-0.61813
0.545764
X Variable 1 4,908.12
1280.895
3.83178
0.001634
x = 168.76

y = 631,594.264

r = 0.703

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4,000,000.00
3,500,000.00
3,000,000.00
2,500,000.00
Series1
2,000,000.00
Linear (Series1)
1,500,000.00
1,000,000.00
500,000.00
0.00
0
100
200
300
400
500

Figure 4. Graph of total members and total liabilities
Total net surplus. Table 5 and Figure 5 shows the growth of Bahong Multi-
Purpose Cooperative in terms of net surplus. It can be seen from the table that there is a
growth in net surplus from P17,698.59 in 1991 to P3572,228.55 in 2008. The net surplus
is the excess payment from members so if the members increased there are many excess
of their payments go to net surplus.
The regression analysis showed that there is a positive linear correlation between
number of members and net surplus where the correlation coefficient, r, equals 0.569
which is interpreted as moderate or substantial relationship. As membership increases, it
is expected that total net surplus increases, too. The membership and total net surplus are
related by the regression equation y = -14,087.60 + 756.98x. This indicates that for every
additional member of the cooperative, there is a corresponding average increase of
756.98 pesos in net surplus.


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Table 5. Growth in total membership and net surplus of BMPC
YEAR
TOTAL
NET SURPLUS
MEMBERS, x
(IN PESOS), y
xy
x2





1991
44
17,698.59
778,737.96
1,936
1992
62
40,248.58
2,495,411.96
3,844
1993
79
71,344.73
5,636,233.67
6,241
1994
87
67,931.66
5,910,054.42
7,569
1995
131
79,608.00
10,428,648.00
17,161
1996
107
129,972.71
13,907,079.97
11,449
1997
103
188,312.53
19,396,190.59
10,609
1998
111
225,931.46
25,078,392.06
12,321
1999
103
78,018.16
8,035,870.48
10,609
2000
131
181,989.17
23,840,581.27
17,161
2002
150
-98,779.91
-14,816,986.50
22,500
2003
170
-95,659.68
-16,262,145.60
28,900
2004
211
63,090.30
13,312,053.30
44,521
2005
239
94,339.40
22,547,116.60
57,121
2006
333
70,712.34
23,547,209.22
110,889
2007
379
245,286.22
92,963,477.38
143,641
2008
429
572,228.55
245,486,047.95
184,041
TOTAL 2,869
1,932,272.81
482,283,972.73
690,513

Coefficients
Standard Error
t Stat
P-value
Intercept
-14087.600
56950.370
-0.24737
0.807978
X Variable 1
756.976
282.576
2.67884
0.017172
x = 168.76

y = 107,348.49

r = 0.569


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700,000.00
600,000.00
500,000.00
400,000.00
300,000.00
Series1
200,000.00
Linear (Series1)
100,000.00
0.00
-100,000.00 0
100
200
300
400
500
-200,000.00

Figure 5. Graph of total members and net surplus

Capital Structure
A. Sources of Funds
1. Membership’s share capital contribution;
2. Revolving capital build up which consists of the different payment of patronage
refund or interest on share capital;
3. Loans and borrowings including deposits;
4. Subsidies, grants, legacies, aids or donations and such other assistance from any
local or foreign institution;
5. The tensions from the proceeds of services or goods procured by members; and
6. Other sources of funds as may authorized by law.
B. Sources of Income
The following are the sources of income of the cooperative:
1. Interest on loans, service fee, filling fee, fines and other fees;
2. Sales, connection fee, surcharges from water service;
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3. Income from production;
4. Rental income;
5. Income from investment or banks; and
6. Other generating income as approved by the board or general assembly;


Financial Trends

This section presents the financial picture of the cooperative from 1991 to 2008.
Table 6 shows the different computed financial ratios of the cooperative for the Fourteen
(14) years. The financial analysis done included: debt ratio, equity ratio, return on
investment (ROI), net surplus ratio, and current ratio.
Capital structure. The capital structure shows the debt ratio and equity ratio that if
we compare, it can observed from table 6 that when the debt ratio is increasing, the equity
ratio was decreasing and vice versa that when the equity ratio also increased the debt
ratio was decreasing but in 1994 only3.46% difference. In 2001 it is 100% because of
they same amount of member’s equity and total assets and in 2006 there is a difference
by only 1.43%.

Profitability ratio. The profitability ratio has the return on investment (ROI) and
net surplus ratio presented in table 6. The return on investment presents the rate of return
on the members share capital. The result shows that it increased in three years, decreased
in two years, decreased for one year, increased for two years, decreased for one year, and
it increased again in 2000 for higher rate of 34% but it does not have rate in 2001 and
experience negative in 2002 to 2003. From that negative in two years it became positive
for five years and as we observed that it has two years increased in one year decreased.
The net surplus shows the proportion of net surplus to the total revenue. This was the
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Table 6. Computed financial ratios of the cooperative

DEBT
EQUITY
NET
CURRENT
YEAR
RATIO
RATIO
ROI
SURPLUS
RATIO
RATIO






1991
70.95%
29.05%
11.70%
5.31%
1.38
1992
64.69%
30.44%
13.41%
19.35%
1.36
1993
51.73%
39.96%
20.18%
30.58%
1.72
1994
43.15%
46.61%
15.28%
27.85%
2.09
1995
53.65%
37.20%
15.46%
28.80%
1.73
1996
33.67%
50.81%
18.84%
16.92%
2.38
1997
24.26%
55.58%
23.72%
17.87%
3.37
1998
20.78%
56.22%
25.00%
35.48%
3.93
1999
39.90%
44.89%
14.82%
19.65%
1.93
2000
35.95%
46.76%
34.00%
39.56%
2.14
2001
-
100%
-
-
-
2002
35.57%
64.43%
-29.19%
-20.06%
0.92
2003
27.18%
72.82%
-28.84%
-13.30%
1.19
2004
118.61%
98.48%
17.85%
7.89%
0.22
2005
28.40%
33.30%
13.37%
8.21%
1.58
2006
22.54%
23.97%
13.00%
4.89%
1.42
2007
34.59%
65.41%
9.91%
15.35%
1.79
2008
53.24%
46.76%
18.22%
25.26%
1.27


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same to ROI that it has a negative rate in 2002 to 2003 and no record in 2001. for 1991 to
2000 has a ratio of 5.31% to 39.56% before it go to 2001 to 2003 that has no amount and
negative but in 2005 to 2008 the ratio is 7.89% up to 25.26%. This means that in the past
years before 2001 they can defray expenses used of the total revenue but in 2001 to 2003
they cannot used their total revenue to defray expenses and in 2004 to 2008 slowly
increased the net surplus that they may used their revenue to defray expenses again for
they have 15.38% in 2007 and 25.26% in 2008.
Liquidity ratio. The liquidity ratio has only current ratio that presents the ability of
the cooperative to meet short term financial obligations. The computed ratios from 1991
to 2008 were greater than one except the 2001 that they have no records and 2002 and
2004 for they have a lower than one for total current asst lower than the total current
liability.

Policies that Affects the Growth of the Cooperative
The credit policy adopted by the cooperative was based on the general policies
that were provided by the CDA. Amendments were rarely done on the policies.
Collection on past due loans specially the Agricultural Production Loan which was
finance by Land Bank was pose a problem. It caused the credit service to freeze its
operation. Some members resigned and withdraw their share capital. Not until 2006
when the cooperative hired a full time manager that extensive changes on policies and
articles and bylaws was done and implemented. This resulted in the sharp changes in the
financial statements.
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On the water service, the water rates are constantly increasing. The member-
consumers are getting numerous. The area of water operation is also getting wider. In
fact, it is the water service that kept the cooperative survived when the credit service
postponed its operation. To this date, the cooperative has about 380 connections
compared to the initial connections of only less than 100.
The consumer service, where the cooperative sell basic needs like rice, LPG, sugar etc.
was once also active. But for two times, the coop was rob. The operation has ceased
until now.
The following are the secretary identified the recent policies that contribute to the
increase in number of members and continue to attract more nonmembers:
1. Resuming of the credit services (loans, savings deposits). Some ex-members who
withdrew their membership during the non-operation of credit service are returning as
members.
2. Additional and improvement of loan services
The cooperative has accepted new terms and mode of payment such as weekly or
monthly through the newly added loan service, the salary loan and commercial loan.
The phenomenal emergency loan was also a great success surpassing the expectations of
the management. A member can enter the office and in less than 15 minutes, the
emergency loan is already released.
The loan ceiling (the maximum amount a member can apply for loan) also increased
attracting members to increase their share capital to increase their loans.
3. Additional service like selling greenhouse/farming paraphernalia
4. Simple and undemanding requirements to avail services
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Services of the coop does not require bulky of papers. Water service connection doesn’t
require any certifications or clearance. Loan services are convenient as possible or not
too demanding a lot of papers so as not to disturb the work of the members which are
mostly farmers.
5. The cooperative offers higher interest rates on savings and time deposits and
competitive interest rates on loan services.
The officers and staff of the cooperative, since its birth in 1991, had been relying
on loose compilation of policies and from the issuance of government regulation bodies
in the management of the cooperative. As the cooperative grows, the policies followed,
suit to keep pace with the growth together with the system and procedures. Sometimes
confusion and indecision transpire when practice being applied by the cooperative has no
backing of concrete policies and guidelines.

Problems Face by the Cooperative as the Cooperative Management Identified
1. The cooperative do not have sufficient cash for loans. Few members are saving.
Loan applicants (especially big loans) queue and wait for a week or two to have enough
cash to be released.
2. About 25% water consumers are still associate members. And many of them are
not interested or willing to contribute in the share capital of the cooperative. Some are
disoriented with share capital.
3. When the cooperative conducts seminar (membership, education purposes, etc.)
few are attending.
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4. Some water consumers (members and associate) don’t support other services of
the cooperative such as savings. Their old practice, they believed that membership is
separate according to services so share capital are book separately. They assume that a
member of the water service is not a member of the credit service or the other way. That
idea still persists to some members. So they persist they can withdraw their membership
and share capital in credit service but maintain their water service connection.
5. No records in 2001 for not functioning of the operating machine.




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SUMMARY, CONCLUSIONS AND RECOMMENDATIONS


Summary

The Bahong Multi-Purpose Cooperative was organized by 44 interested
individuals’ members that are bona fide resident of Barangay Bahong, La Trinidad,
Benguet, an agricultural based community engaged in vegetable and cut flower
production such as roses. The objectives of the cooperative were to provide credit
service, marketing service and domestic water service to the members; to engage in the
supple of production inputs to members and market their products; to engage in
transportation, communication, labor, market management.
The study was conducted primarily to assess the growth of the cooperative in terms of its
membership, paid-up share capital, total assets, total liabilities, and total net surplus; to
find out any change and improvement in their policies; and to identify the problems of
the cooperative and come up with solution or recommendations for the improvement of
BMPC.

The manager, secretary and some officers served as the source of primary
information while secondary information was taken from the records and reports field at
the cooperative office. This study was conducted from December 2008 to February 2009
at the cooperative office in Bahong, La Trinidad, Benguet.

The result of the study is the cooperative experience up and down/ increased and
decreased situation/circumstances in their assets, share capital, liabilities and net surplus
but they stand firm and they press on toward their goal even in 2001 was not operated
well but they established it until present that they progress a we view in the year 2005 to
2008 that they attained million. It showed that there was growth in membership, paid-up
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share capital, total assets, total liabilities, and total net surplus. Even though the assets
and share capital fluctuating in 14 years but in 4 to 5 years their will be a growth change.
There were some years that it increases and there were also years that it decreases
specially in the center of the year from 1991 to 2008.

There had been increment in membership every year. The share capital and the
total asset had been continuously also. There were some years that the increments were
high and there were some years that increment was low in both the share capital and total
asset. Total share capital had been increasing from a mere 133 thousand and it almost
multiply to 1.4M in 2008. Out of the current value of assets 46.76% and 53.2% represents
members’ equity and total liabilities of the cooperative, respectively. From their current
assets is indicating that the business is liquid that it can capable to covering the current
liabilities for the current ratio is greater than one, except in 2001 to 2004 that it decreased
but it increased in 2005 to 2006. As to profitability ratios indicated that for the current
year (1991), the cooperative net surplus was above the ideal rate which indicates that the
business is profitable.

As to the policies of the cooperative there was not much change and
improvements. The problems of the cooperative were the lack of records for 2001
because of not functioning of machine or the machine that operates the water is
destroyed.





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Conclusions

Based on the results and findings, the following conclusions were formulated:
1. The success of a cooperative is seen in its membership, share capital, assets
and profitability. The BMPC grew in membership from 1991 to 2008 with a
corresponding growth in total share capital, total assets, total liabilities, and net surplus.
2. There is a direct relationship between the number of members and each of the
following: share capital, total assets, total liabilities, and net surplus.
3. The financial performance of BMPC, based on profitability ratios, indicates
that the net surplus is above the ideal rate; this indicates that the cooperative is profitable.
4. Change in policies of the cooperative in 2007 and were strictly followed and
implemented that were increase in their membership.
5. BMPC faces some problems just like any other institution. According to the
BMPC management, there is lack of sufficient funds for loans since very few members
are saving and consequently, loan applicants queue and wait for a week or two. Many
members are not willing to contribute to the share capital; very few are attending
seminars conducted by the cooperative.

Recommendations
The following are recommended:
1. More capital, better financial service to the members. Better service results to
better way of life for the members; the members should be educated on how to borrow
and manage their finances wisely.
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2. The cooperative should have sufficient cash for loans for the members. The
BODs and the manager should plan ways and strategies to attract members to attend the
seminars and non-members to become members.
3. The cooperative should come up with a capital build-up program so that
members will add to their paid-up capital.
4. There has to be attractive scheme to encourage members to contribute in the
share capital; they have to feel a sense of ownership since a cooperative is owned by the
members.
5. The government has to support and provide assistance to cooperatives like
BMPC so that they can serve more its members.
6. Future researchers could conduct studies similar to this in order to help
cooperatives assess their financial status.












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LITERATURE CITED

COOPERATIVE BUSINESS DEVELOPMENT. 1999. CHF International. Retrieved
October 04, 2008 from http://www.chfhq.org/node/27984.

COOPERATIVE DEVELOPMENT AUTHORITY ACT (Republic Act No. 6939).
2000. The cooperative development authority republic act no. 6939 of 1990
republic of the Philippines congress of the Philippines Retrieved December 05,
2008 from http://www.ilo.org/dyn/natlex/natlex_browse.details.

FULTON, M. E. AND J. R. FULTON. 2008. Cooperative growth: Is it constrained.
Retrieved October 04, 2008 from http://www3.interscience.wiley.com/
journal/112476/abstract.

GUTKNECHT, D. 2008. Cooperative Capital and Member Equity Systems: The Heart of
Cooperatives. Retrieved October 04, 2008 from http://www.cooperative grocer.
Coop/ articles/index.php? id=73.

MANUAL OPERATIONAL OF BAHONG MULTI-PURPOSE COOPERATIVE. 2008.
Bahong, La Trinidad, Benguet Pp. 4-6.

OUSTAPASSIDIS, K., A.VLACHVEI and K. KARANTININIS 2008. Growth of Invest
or Owned and Cooperative Firms in Greek Dairy Industry. Retrieved October 4,
2008 from http://www3.nterscience wiley.com/journal/119137 085/abstract?
CRET=1SRETRY.




















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EXHIBIT 1
COOPERATIVE ORGANIZATIONAL CHART


GENERAL
ASSEMBLY

Election
Credit
Board of
Audit and Inventory
Education
Committee
Committee
Directors
Committee
Committee
Secretary
Treasurer
Manager
Cashier
Bookkeeper
Clerk
Pump Operators
Plumbers/Meter
Reader


ORGANIZATIONAL STRUCTURE OF THE COOPERATIVE


BAHONG MULTIPURPOSE
COOPERATIVE
Water Service
Credit Service
Marketing
Service
Domestic and
Water Refilling
Loans
Savings
Greenhouse
Cold Storage
Marketing
Drinking
Station
farm
Farm Inputs
Water System
(Proposed
Project)

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APPENDIX A

By-Laws of the Bahong Multi-Purpose Cooperative, Inc.

KNOW ALL MEN BY THESE PRESENTS:

We, the undersigned, citizens and resident of the Philippines, representing a
majority of the members of the BAHONG MULTI-PURPOSE COOPERATIVE, INC a
primary agricultural multi-purpose cooperative here in after referred o as cooperative, do
hereby adopt the following code of by-laws.

ARTICLE I

OBJECTIVES AND PURPOSES

Section 1. Objectives and purposes- The Objectives and purposes of this
cooperative are those set forth in its Article of cooperation and those generally granted to
cooperative under R.A. 6938, and the rulers and regulations there under.

ARTICLE II

MEMBERSHIP

That membership of this cooperative shall be open to all person who are of legal
age, with capacity to contact or heads of the families and are residing or farming within
the area of operation as defined in Article III of the Article of Cooperation thereof.

The prospective members should:
1. Pledge to undertake the responsibilities of members;
2. complete the prescribe pre-membership cooperative education program; and
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3. Use or anticipate to use the services of the cooperative in the purchase of
production inputs, supplies, tools, equipments, consumer goods, marketing of
their produce, processing, and saving and loaning services, etc.
Section 2. Application for Membership.
a. The application for membership shall be in writing on a form provided for the
purpose and shall be presented to the Board of Director for action.
The application shall be accompanied by membership fee of One
Hundred Fifty Pesos (P150.00) which amount shall be returned in case of
rejection.
b. The applicant shall subscribe for at least 80 shares with a total value of Eight
Thousand Pesos (P8,000.00) of which at least One Thousand Pesos (1,000.00)
corresponding to 10 shares shall be paid upon submission of the application
for membership. The membership and subscription agreement shall provide
the term of payment on the unpaid subscription.
However, no members shall own or hold more than twenty per centum
(20%) of the share capital of the cooperative.
c. Appeal- An applicant rejected by the Board of Directors, may appeal to the
next general assembly by giving notice to the secretary of the cooperative
thirty (30) days before the said General Assembly, whose decision on the
matter shall be final.
Section 3. Duties of a member – Every member shall have the following duties:
a. Pay the installment on capital stock subscription as it falls due and to
participate on the capital build-up of the cooperative;
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b. Patronize regularly its business;
c. Adopt improved production technique and practice;
d. Participate in its parliamentary affairs;
e. Attend the membership meeting, regular or special;
f. Obey the rules and regulations provided by R.A. 6938, these by-laws, the
decisions of the general assembly and the Board of Directors, and policies and
decisions that may be promulgated by the Cooperative Development
Authority (CDA); and
g. Promote the aims and purposes of the cooperative, the success of its business,
the welfare of its members and the cooperative movement as a whole.
Section 4. A right of a Member- Every member who is entitled to vote has the
following rights:
a. Participate in the deliberation during membership meeting;
b. Vote on all maters brought before such meetings;
c. Seek any elective position, subject to the provision of section 12, Article III of
these by-laws;
d. Avail himself of the services of the cooperative without any discrimination
whatever upon compliance with the conditions and requirements thereof; and
e. Inspect and examine the books of accounts, the minute’s books, the share
register, and other records of the cooperative during office hours and to
exercise other rights and privileges of membership.
A member is entitled to vote when:
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a. Has paid the required membership fee of one hundred fifty (P150.00) (fifty
Pesos P50.00) and the value of at least 10 SHARES (Five (5) share) as
prescribed in Section 2 of this Article;

b. Is not delinquent in the payment of his capital contribution and accounts;
c. Has not violated any provision of these by-laws, rules and regulation, circular/
memoranda and other instruments required of him to execute as provided in
these by-laws or as prescribe by the Board of Directors;
d. Has attended and completed the prescribed cooperative seminars;
e. Patronizes regularly the business of the cooperative and participates in its
parliamentary affairs; and
f. Complies with all obligations, duties and undertakings of membership.

Section 5. Liability of members – the liability of members shall be limited. No
member shall be liable for any indebtedness of the cooperative beyond his subscribed
shares.

Section 6. Termination of membership – membership in the cooperative may be
terminated either by withdrawal or expulsion.

Section 7. Withdrawal – Any member desiring to terminate his membership by
withdrawal shall submit a written application to the Board of Directors. However, no
member shall be allowed to withdraw or terminate his membership during any period in
which he has any pending obligation with the cooperative.

Section 8. Expulsion – A member may be terminated by a vote of majority of all
the members of the Board of Director for any of the following causes;
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a. When a member has not patronized the services of the cooperative for
unreasonable period of time as may be fixed by the Board of Directors;
b. When a member has continuously failed t comply with his obligations;
c. When a member has acted in violation of the by-laws and the rules of the
cooperative; and
d. For any act or omission injuries or prejudicial to the interest or the welfare of
the cooperative.

A member whose membership the Board of Directors may wish to
terminate shall be informed of such intended action in writing and shall be given
an opportunity to be heard before the said Board makes its decision. The decision
of the Board shall be in writing and shall be communicated in person or by
registered mail to the member and shall be appealed within thirty (30) days after
the decision is promulgated, to the General Assembly whose decision therein,
whether in a general or special session, shall be final. Pending a decision by the
General Assembly, the membership remains in force.

Section 9. Appraisal and Payment of Members’ Interest Upon Termination of
Membership. Upon termination of the membership of a member, the Board of Directors
shall determine the book value of the member’s share capital, in no case to exceed the par
value, as established at the year-end audited financial statement nearest to the date of
termination and shall fix the amount thereof in money to be paid subject to the
availability of funds. Within one year after such termination, or at the option of an
expelled or withdrawing member or the heir or his legal representative, he may, in lieu of
cash, be issue a revolving fund certificate or other evidence of indebtedness; provided
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however, that payment of said equity in cash shall not be made of an account of such
payment the value of the cooperative’s assets would be less that the aggregate of its debts
and liabilities exclusive of capital stock subscribed, or will diminish the reserved under
existing laws.
ARTICLE III

GOVERNMENT

Section 1. Membership Control – Subject to the provisions of R>A> 6938, and
regulations issued there under, final authority in the management and administration of
the affairs of the cooperative is vested in the General Assembly.

Section 2. The General Assembly – The General Assembly of the cooperative
shall be composed of members entitled to vote duly assembled and constituting a
quorum.

Section 3. Power and Limitations of the General Assembly – The General
assembly has the power:
a. To elect and remove directors, officers and committee members for cause;
b. To hear and pass upon the reports of the Board of Directors, Officers and
committees;
c. To take final decisions regarding any drastic change in financial policies,
subject to legal restrictions;
d. To determine the amendment/s in the articles of cooperation and/or by-laws;
e. To exercise final authority on all matters vitally affecting the cooperative;
f. To approve developmental plans of the cooperative;
g. To exercise all powers expressly provided by law and by-laws.
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Section 4. Annual General Assembly – The General Assembly shall be held on
every 4rth week of February at the principal office of the cooperative or at any place
within the area of operation and at such time as the Board of Directors may designate.

ARTICLE OF COOPERATION
1. Art. II - Objectives and Purposes
ü To provide credit service, marketing service and domestic water service to the
members.
ü To engage in the supple of production inputs to members and market their
products.
ü To engage in transportation, communication, labor, market management.
2. Art. VII – Board of Directors

That the number of directors of this cooperative shall be Five
4. Art VIII – Capitalization

That the authorized share capital of the cooperative is Seven Million and
said capital is divided into 70,000 shares with a par value of one hundred pesos
(100.00).
5. Art. IX – Subscribed and Paid-up Capital


That the authorized share capital, which has been actually subscribed, is
One Million Seven Hundred Fifty Thousand Pesos (P1,750,000.00) and the
amount paid on such subscription is Five Hundred Forty Three Thousand Five
Hundred Eight Six Pesos and 91/100 (P543,586.91).


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APPENDIX B
Duties and Responsibilities of General Assembly


1. To draw up or amend the cooperative’s Articles and By-laws and policies;
2. To provide capital for the cooperative by paying his subscribe capital and
participate in coop capital build-up programs;
3. To approve affiliations to union, federation, cooperative banks, Apex and
consolidation or membership with other cooperatives;
4. To approve investments of cooperative fund/money;
5. To approve investment equity contributions federations, unions and other
federation;
6. To elect among themselves those who will serve as members of the Board of
Directors and committee members;
7. To approve the dissolution or merger of the cooperative;
8. To approve the acquisition of land/building vehicle and other fixed assets of the
coop;
9. To approve long and short-term plans of business expansion, proposed budget and
other coop plans;
10. To approve annual reports;
11. Maintain the cooperative by:
a. Continuing his or her support during temporary adverse condition such as
price wars, etc.;
b. Giving constructive suggestions and criticisms to the board of directors and
the general assembly rather than airing elsewhere;
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c. Serving conscientiously on the Board of Directors or committees when elected
or called to do so;
d. Paying obligations on time;
e. Monitoring co-makers; and
f. Checking records of the cooperative.
12. To regularly attend and participate in the general or special assembly meetings of
the cooperative. Failure to attend shall be fined Php 100.00 except to the
following reasons: sickness, old age, bereavement, maternal birth, scheduled
office works, religious worship and joint members that any of them shall
represent in their attendance with supporting letter to the office for reference.
Collection shall be recorded as other income.



















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APPENDIX C
Power, Duties and Responsibilities of the Board of Directors


a. To sign all contracts and agreement, which the coop may enter into that is
allowed by the general assembly;
b. To approve the interest rate of savings, loans, and other charges;
c. To review the annual plan budget;
d. Exercise the general supervision on the overall affairs of the coop;
e. To appoint a person to fill up vacant position of officer incase of vacancy;
f. To appoint manager;
g. To approved withdrawal of membership;
h. Adopt bold and aggressive policies that can withstand the riggers of public
scrutiny and a policy of transparency for the welfare of the general
membership;
i. Coordinate with committees and management to effect harmonious business
operation; and
j. To respect the powers of the manager as duly defined in the Articles of
Cooperation and By-laws of the Cooperative.
Specific Duties and Responsibilities of the Board of Directors
a. Punctuality and religiously attend meetings of the board and general
assembly, and actively participate in deliberations;
b. Vote on issues and matters brought forth in the board meeting taking into
consideration the best interest of the cooperative above the self interest;
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c. Elect or cause the appointment of competent, honest, respectable, dedicated
and responsible, chairman, secretary, treasurer, general manager and other
officers of the cooperative as per by-laws.
d. Attend activities and affairs of the cooperative that may be scheduled where
his presence is needed;
e. Familiarized himself or herself with the general assembly operation, business
and services of the cooperative, including its financial operations;
f. Promote and advertise the cooperative and its business and services;
g. Further improve his or her knowledge on cooperative and management by
attending trainings or seminar , workshops and conferences;
h. Divest himself or herself of business similar or in connection with the
cooperative;
i. Avoid interfering with the day-to-day and routine operations and management
of the cooperative;
j. Act with dignity and in manner befitting a representative of cooperative at all
times and worthy of respect; and
k. Protect and defend the good name and reputation of the cooperative taking
time to explain circumstances and on-going in the cooperative’s operations
with care.







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APPENDIX D
Duties and Responsibilities of Audit and Inventory Committee


a. Undertakes periodic internal audit of the books of account and other
records and documents of the cooperative;
b. Serves as financial consultant of the Board of Directors;
c. Conducts periodic inventory of fixed assets and other properties of the
cooperative;
d. Renders periodic reports to the Board of Directors;
e. Maintains a complete record of its audit or examination and inventory;
f. Undertakes periodic performance audit of officers, staffs and personnel of
cooperative based on acceptable standards;
g. Calls for a special general assembly to consider urgent matters needing the
attention and action of the general assembly;
h. Assists and coordinates with the external auditor during external audits
and examinations;
i. Undertakes periodic monitoring of projects being undertaken by
cooperative;
j. Makes reports on audit findings with evaluation and recommendation to
the Board of Directors or General Assembly;
k. Recommends policies for consideration and adoption by the Board of
Directors;
l. Familiarizes itself with the policies of the cooperative and essentials of the
accounting and recording systems being used by the cooperative; and
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m. To conduct, examine and verify the financial affairs of the cooperative
such as:
(a) Internal inventory of the assets and pipeline of the cooperative;
(b) Cash on hand and cash in bank deposits, securities and properties
periodically;
(c) Members individual ledgers;
(d) Borrowers application; and
(e) Budget as prepared by the manager.
Duties and Responsibilities of Credit Committee
a. Screens, evaluates and acts on loan applications and recommends approval
or disapproval as the case may be;
b. Supervises all loans to members;
c. Monitors the use of loan proceeds and see to it that it is being used for the
purpose applied for as approved;
d. Assists in the collection of loan repayments;
e. Recommends loan and savings policies for consideration and approval by
the Board of Directors;
f. Renders reports to the Board of Directors and General Assembly on the
loaning operations of the cooperative;
g. Conducts regular committee meetings and keep minutes of such meetings;
h. Familiarizes itself with the cooperative’s policies on loans and savings and
credit procedures;
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i. Keeps an update record of all actions taken by the committee on loan
application; and
j. In the absence of one credit committee, the majority members of at least
two have the power of approve or disapprove loan proposal.
Education And Training Committee - no duties
Duties and Responsibilities of Election Committee
a. Promulgate rules, regulations and procedures in the conduct of elections of
directors, committee members and other elective officials of the
cooperative in accordance with policies;
b. Pass upon the qualifications of candidates for elective positions;
c. Supervise the conduct of elections;
d. Proclaim the winning candidates;
e. Decide on matters pertaining to election and questions of qualifications of
candidates in accordance with policies of the cooperative;
f. Decide election protest after due process;
g. Recommend policies on election and qualification of candidates for
consideration and approval by the board;
h. Supervise the voting for the removal of elected officers and all other
matters needing their intervention;
i. Conduct regular committee meetings and keep minutes of such meetings
and other proceedings; and
j. Conduct Credit Investigation and Background Investigation (CIBI) in
screening of candidates;
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APPENDIX E
Officers and their Duties and Responsibilities

1. Board Chairman
Duties and Responsibilities
a. To sign all contracts and agreements which the cooperative may enter
into;
b. To sign pertinent transactions involving the manager (refer to CASA)
c. To approve or disapprove the loan of the manager;
d. To assist the manager in all transaction;
e. Presides over all meetings of the cooperative and the Board of Directors;
f. Performs all acts and duties actually performed by the presiding officers;
g. Performs such other duties as the board may prescribe; and
h. To prepare agenda of the meeting with the manager.
2. Vice Chairman
Duties and Responsibilities
In the absence, disability or incapacity of the chairman, the vice chairman
shall perform the duties and responsibilities of the chairman. Provided, however,
that incase of death, is ignition, removal or permanent incapacity of the chairman,
the board of directors may decide to elect his successor. The vice chairman of the
board shall serve as ex-officio chairman of education committee.
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3. Secretary
Duties and Responsibilities
a. Keeps and maintains a complete registry all members and records or
minutes of all meetings of the board of directors and general assembly;
b. Gives notice to all meetings;
c. Keeps and maintains the share and transfer book and serve as the
custodian of the corporate seal of the cooperative;
d. Turn over to his access are all the books and records and other properties
belonging to the cooperative in his possession upon the expiration or
termination of his term of office;
e. Performs the duties of the treasurer are incase of the latter’s absence or
inability to perform his duties; and
f. Performs other duties as the board of directors may prescribe.
4. Management staff
The management and staff of the cooperative are as follows:
a. General manager
b. Loan officer
c. Accountant or bookkeeper
d. Cashier
e. Posting clerk
f. Collectors
g. Plumbers
h. Pump operators
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APPENDIX F
Changes in the Policies Practices and Programs


Old Loan and Saving Policies of Cooperative:
1. Amount of loan is x2 of the paid share capital.
2. Ceiling of loan is P 4,000.00.
3. Interest of loan is 1% a month.
4. Service Fee is P10.00.
5. Filing Fee is P8.00.
6. Fines are 2%.
7. Emergency loan is P500.00.
8. Grace period is 14 days.
9. Period of loan is 6 months.
10. Saving interest is 6% quarterly.
11. She/he must be a member of the Bahong MPC.
12. A member must be at least 15 years of age and have an independent source of
income.
13. Must have paid at least 10 shares or half of the prescribed fixed deposits and/or
have paid his/her full share capital.
14. A member must attend the Pre-Membership Education Seminar.
15. Must have a good attendance of meeting whether regular or special.
16. Must have a co-maker and a signature of spouse or guardian.
17. Must have no record of Staffa.
18. A member must be a good payer.
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19. A member should completely sign an application form.
20. Loans should be released upon the approval of the Credit Committee and the
Chairman.
21. Saving deposit may also be made after completion of the Share Capital.
22. Saving interest is compounded quarterly provided the deposit is made on the 5th
day of the month.
23. Saving minimum amount to have an interest is P20.00.
24. Saving should only be withdrawn after one (1) month on or before 3:00PM.
25. A member should always present his/her passbook upon having loan or saving.




























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APPENDIX G
Formula Used For the Computation of Financial Ratios

Capital Structure
1. Debt Ratio =
Total Liabilities x 100



Total Asset
2. Equity Ratio =
Member’s Equity x 100


Total Asset
Profitability Ratio
1. Return on Investment (ROI) =
Net Surplus x 100





Total Equity
2. Net Surplus Ratio =
Net Surplus x 100




Total Revenue
Liquidity Ratio
1. Current Ratio =
Current Asset



Current Liabilities
nå xy - å xå y
r = (

nå x - (å x)2
2
)(nåy -(åy)2
2
)


Where n = the number of observations
x = year, membership
y = dependent variable, say, net assets




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APPENDIX H
Interview Guide

1. What was the purpose of the cooperative?
2. Did all the members attend the Pre-Membership Education Seminars?
3. Who conducts the PMES? How regular is the conduct of PMES?
4. Who were the first members of the Board of Director and Officers of the
Cooperative?
5. How was the operation started?
6. How do you get membership?
7. How much was the total share capital?
8. How much was total assets?
9. How much was the total liabilities?
10. How much was the total net surplus?
11. What factors affect the increase/decrease in your share capital?
12. Did you amend your By-laws? How many times?
13. Where there changes in your policies?
14. What old policies were changed and
What are the new ones?
15. Do you stick to your policies in your operation or were there cases that you
disregard your policies to suit the situation?
16. What are the problems you encountered in your cooperative?



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Document Outline

• Bahong Multi-Purpose Cooperative: ADocumentation in Bahong, La Trinidad, Benguet
  • BIBLIOGRAPHY
  • ABSTRACT
  • TABLE OF CONTENTS
  • INTRODUCTION
  • REVIEW OF LITERATURE
  • METHODOLOGY
  • RESULT AND DISCUSSION
  • SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
  • LITERATURE CITED
  • APPENDIX

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